Which of the following is a characteristic of an indifference curve?
a. Positive slope.
b. Concave shape.
c. Negative slope.
d. Zero slope.
c
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Consumer surplus is the
A) value of a good expressed in dollars. B) price of a good expressed in dollars. C) value of a good minus the price paid for it summed over the quantity bought. D) value of a good plus the price paid for it summed over the quantity bought.
Which of the following is not a member of the Federal Open Market Committee (FOMC)?
A) The entire board of governors B) Five reserve bank presidents C) The chairman of the SEC D) All of the above are members of the FOMC.
In an economy with a population of 100 million persons, 40 million hold civilian jobs and 9 million are not working but are looking for jobs. The number counted as unemployed is
A) 91 million. B) 9 million. C) 51 million. D) 40 million. E) 49 million.
In Figure 24.2, the profit-maximizing monopolist will earn a profit per unit of
A. $5.50. B. $1.50. C. $4.00. D. $4.70.